The global complete nutrition products market size is expected to reach USD 6.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. Growing consumer inclination towards ready-to-eat or on-the-go products, owing to busier lifestyles and hectic work schedules, is driving the demand for complete nutrition products.
Key Insights & Findings:
- North America dominated the market and accounted for the largest revenue share in 2020. The growing awareness of low calorie and highly nutritional diet to promote physical health and cater to obesity especially among millennials and the working-class population in the U.S. has ensured high demand for complete nutrition products in the region
- The RTD shakes segment is projected to register the fastest CAGR of 6.8% from 2021 to 2028. Consumers are adopting these shakes for post-workout and on-the-go routines. Consumers have been using them as meal replacements since it reduces the need for cooking, planning, and preparing meals, which is expected to drive its demand during the forecast period
- The online segment is expected to register the fastest growth during the forecast period owing to a shift in consumers’ shopping behavior. Benefits offered by online distribution channels such as door-step delivery, easy payment methods, heavy discounts, and the availability of a wide range of products on a single platform also attracts consumers to shop through this channel
Read 90 page market research report, “Complete Nutrition Products Market Size, Share & Trends Analysis Report By Product (Powder, RTD Shakes, Bars), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online), By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
Increasing working population in both developed and developing nations and rising single households that have less time to cook or prepare meals are factors anticipated to propel market growth. Moreover, convenient food products in the form of bars and RTD shakes are easily accepted by consumers owing to their on-the-go lifestyles. The rising demand for high quality, organic, and unique taste is further likely to drive the market.
The powder segment dominated the market in 2020 and is expected to maintain its dominance over the forecast period. Nutrition products in the form of powder can be readily mixed with water and are available in a ready-to-drink format, which, in turn, is driving their adoption. They are majorly consumed in regions such as North America and Europe owing to the wide availability of products through online and offline channels.
The supermarkets and hypermarkets segment dominated the market and accounted for the largest revenue share in 2020. The increasing availability of complete nutrition products at independent stores such as Walmart, Costco, Tesco, GNC Holdings, LLC, and The Vitamin Shoppe has immensely helped these products to be in the demand for now which is likely to continue over the forecast years.
The market is fragmented in nature with the presence of a large number of regional and few international players. Huel Inc.; Soylent; IdealShape; SlimFast; LadyBoss; RSP Nutrition; Numix; MuscleBlaze; Jimmy Joy; and YFoodare among the prominent players in the global market.
Grand View Research has segmented the global complete nutrition products market on the basis of product, distribution channel, and region:
- Complete Nutrition Products Outlook (Revenue, USD Million, 2016 – 2028)
- RTD Shakes
- Complete Nutrition Products Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Complete Nutrition Products Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- North America
List of Key Players of Complete Nutrition Products Market
- Huel Inc.
- RSP Nutrition
- Jimmy Joy
- YFood Labs GmbH
Check out more studies related to nutritional ingredients & products, conducted by Grand View Research:
- Protein Ingredients Market – The global protein ingredients market size was valued at USD 38.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2021 to 2028. The market is gaining momentum and witnessing a high demand owing to rising demand for food products, such as margarine, cold cuts, bakery products, spreads, yogurt, and milk sausages.
- Nutritional Supplements Market – The global nutritional supplements market size was valued at USD 310.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The spread of the COVID-19 pandemic has resulted in increasing health awareness among consumers.
- Dietary Supplements Market – The global dietary supplements market size was valued at USD 140.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028. The increasing consumer awareness regarding personal health and wellbeing is expected to be a key factor driving market growth.